It is important to do your homework well, before you apply for a home loan. There are many reasons due to which a loan application can be rejected by a bank. Also, you may … READ FULL STORY
When you buy a house through a home loan, lenders take into account your current income and accordingly, sanction the home loan, based on your eligibility at that point of time. With increase in … READ FULL STORY
Home loans have become an invaluable tool, for most people looking to buy a home. However, the process can turn into a nightmare, if the borrower commits certain mistakes while applying for the loan. … READ FULL STORY
While opting for a home loan, lenders will not sanction a loan for the entire cost of the house. Moreover, as per the RBI’s directions, lenders are not allowed to take into account the … READ FULL STORY
With the increasing aspirations of the young generation, along with astronomical prices of houses, most home buyers today, seek to avail of home loans to fund their property purchase. However, there are various factors, … READ FULL STORY
What is Primary Lending Rate regime After the deregulation of interest rates following the liberalisation of the economy, banks used to lend at a rate that was benchmarked against their internal rate, which was … READ FULL STORY
There are various factors that determine whether you will get a home loan or not. Consequently, it is advisable to know your home loan eligibility in advance, so that you can plan the purchase … READ FULL STORY
Public sector banks, such as the State Bank of India and private sector lender, ICICI Bank, have recently announced an increase in their marginal cost of funds-based lending rate (MCLR). Consequently, the interest rates … READ FULL STORY
Income tax laws mandate a minimum holding period, before an owner sells his/her residential house, to avail of tax benefits. Let us analyse the various provisions, under the Income Tax Act, to understand the … READ FULL STORY
People at the beginning of their careers, are generally not in a position to spare huge money for servicing a home loan, which they have to invariably take in order to finance the purchase … READ FULL STORY
Obtain a no-objection and no encumbrance certificate In case the society has been formed, the share certificate would have been issued to the owner of the property. While issuing a loan against a property, … READ FULL STORY
Under the Reverse Mortgage Scheme (RMS), a senior citizen can opt to receive an additional source of income on the security of an owned residential house, without having to service it during his lifetime. … READ FULL STORY
State Bank of India (SBI) has announced a massive reduction in its base rate, from 8.95 per cent to 8.65 per cent, effective from January 1, 2018. With other banks expected to follow suit, … READ FULL STORY
